DE GRAER: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DE GRAER
Largest movements
- Receivables within one year +€3,417
up €3,417 (+124.8%), from €2,738 to €6,155
- Tangible fixed assets -€1,618
down €1,618 (-31.5%), from €5,140 to €3,522
of which Furniture and vehicles: -€1,225
- Cash -€1,129
down €1,129 (-3.7%), from €30,268 to €29,139
mainly Contributions, distributions and other (-€20,000) and Receivables within one year (-€3,417)
- Deferred charges and accrued income -€1,100
down €1,100 (-36.1%), from €3,049 to €1,948
- Profit (loss) carried forward +€1,783
new in 2025: €1,783
- Other debts -€1,726
down €1,726 (-7.4%), from €23,188 to €21,462
- Depreciation -€2,632
down €2,632 (-37.9%), from €6,950 to €4,318
- Gross operating margin -€2,240
down €2,240 (-5.7%), from €39,265 to €37,025
- Financial charges -€608
down €608 (-48.4%), from €1,254 to €647
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,254 | €43,824 | -€430 | -1.0% |
| Fixed assets | 21/28 | €8,200 | €6,582 | -€1,618 | -19.7% |
| Tangible fixed assets | 22/27 | €5,140 | €3,522 | -€1,618 | -31.5% |
| Plant, machinery and equipment | 23 | €1,204 | €811 | -€393 | -32.6% |
| Furniture and vehicles | 24 | €3,936 | €2,711 | -€1,225 | -31.1% |
| Financial fixed assets | 28 | €3,060 | €3,060 | = | 0.0% |
| Current assets | 29/58 | €36,054 | €37,242 | +€1,188 | +3.3% |
| Amounts receivable within one year | 40/41 | €2,738 | €6,155 | +€3,417 | +124.8% |
| Other amounts receivable | 41 | €2,738 | €6,155 | +€3,417 | +124.8% |
| Cash at bank and in hand | 54/58 | €30,268 | €29,139 | -€1,129 | -3.7% |
| Deferred charges and accrued income | 490/1 | €3,049 | €1,948 | -€1,100 | -36.1% |
| Total equity and liabilities | 10/49 | €44,254 | €43,824 | -€430 | -1.0% |
| Equity | 10/15 | €20,460 | €22,243 | +€1,783 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €1,783 | +€1,783 | |
| Amounts payable | 17/49 | €23,794 | €21,581 | -€2,213 | -9.3% |
| Amounts payable within one year | 42/48 | €23,794 | €21,581 | -€2,213 | -9.3% |
| Trade debts | 44 | €306 | €119 | -€187 | -61.2% |
| Suppliers | 440/4 | €306 | €119 | -€187 | -61.2% |
| Taxes, remuneration and social security | 45 | €300 | - | -€300 | |
| Taxes | 450/3 | €300 | - | -€300 | |
| Other amounts payable | 47/48 | €23,188 | €21,462 | -€1,726 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,950 | €4,318 | -€2,632 | -37.9% |
| Other operating charges | 640/8 | €2,118 | €1,888 | -€230 | -10.8% |
| Gross operating margin | 9900 | €39,265 | €37,025 | -€2,240 | -5.7% |
| Operating profit (loss) | 9901 | €30,198 | €30,819 | +€621 | +2.1% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €1,254 | €647 | -€608 | -48.4% |
| Recurring financial charges | 65 | €1,254 | €647 | -€608 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | €28,953 | €30,172 | +€1,219 | +4.2% |
| Income taxes | 67/77 | €8,456 | €8,390 | -€66 | -0.8% |
| Profit (loss) for the period | 9904 | €20,497 | €21,783 | +€1,286 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,497 | €21,783 | +€1,286 | +6.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.